Price gouging - still going on

It's clearly a show. Government won't do anything. Costco can argue that their suppliers raised the prices. Price gouging is happening everywhere including gas.

alpovs wrote: ↑ I recalled a thread about Costco selling 20 3M N95 masks for $119.99: https://forums.redflagdeals.com/costco-3m-particulate-respirator-n95-119-99-20-2452053/

Supposedly the government and 3M have mechanisms to stop it. People in that thread said that they reported it to 3M, to Ontario government, to CityNews, to Costco. But Costco is still selling them for that price: https://www.costco.ca/3m-particulate-respirator-n95---20-masks.product.100739985.html

Is this anti-gouging campaign a sham, dog and pony show? Was I that naive to believe in it?

Call Doug Ford and ask him why he hasn't done anything even though he promised to.

Maybe cause the retailer is Costco and not a small business

engineered wrote: ↑ Call Doug Ford and ask him why he hasn't done anything even though he promised to.

A buck-a-beer was a overwhelming.... oh wait..

alpovs wrote: ↑ I recalled a thread about Costco selling 20 3M N95 masks for $119.99: https://forums.redflagdeals.com/costco-3m-particulate-respirator-n95-119-99-20-2452053/

Supposedly the government and 3M have mechanisms to stop it. People in that thread said that they reported it to 3M, to Ontario government, to CityNews, to Costco. But Costco is still selling them for that price: https://www.costco.ca/3m-particulate-respirator-n95---20-masks.product.100739985.html

Is this anti-gouging campaign a sham, dog and pony show? Was I that naive to believe in it?

"When demand reaches such high levels, it can be hard to tell the difference between supply and demand and price gouging. Policymakers and business professionals have historically had mixed opinions on whether businesses should raise prices during a crisis for this reason."

https://online.hbs.edu/blog/post/supply ... ing-debate

last year, it was to ensure the supply reach the healthcare sectors. I still hear of some shortages but not to the level we saw last year. But the scenario seems to be stable enough, the ON government won't be restricting their industry "friends" anymore.

With the USA turning the corner on this (and many other countries), there will be tons of medical grade masks hitting the market at lower prices. Some companies probably don't realize it yet or have old stock. If someone is gouging, they just won't sell as consumers will notice that most will have them for cheap now.

It's too bad that Canadians are still panic buying and such, but that's how bad our vaccine rollout and loose borders have cost us.

Gibsons wrote: ↑ With the USA turning the corner on this (and many other countries), there will be tons of medical grade masks hitting the market at lower prices. Some companies probably don't realize it yet or have old stock. If someone is gouging, they just won't sell as consumers will notice that most will have them for cheap now.

It's too bad that Canadians are still panic buying and such, but that's how bad our vaccine rollout and loose borders have cost us.

Really? Have people really been panic buying for over a year? I'm not even sure how that's possible? These N95 masks have more use for medical and industrial purposes. That's who's getting ripped off. Anyone can easily buy cheap KN94/KN95 masks that are effective enough for most people to get groceries.

And it was opening up too much and not closing down fast enough as suggested by the health professionals that has costed us in Ontario. Also people not following masking guidelines and companies not providing masks and safe work spaces. I see employers who are doing a great job, and many who are doing an awful job.

alpovs wrote: ↑ I recalled a thread about Costco selling 20 3M N95 masks for $119.99: https://forums.redflagdeals.com/costco-3m-particulate-respirator-n95-119-99-20-2452053/

Supposedly the government and 3M have mechanisms to stop it. People in that thread said that they reported it to 3M, to Ontario government, to CityNews, to Costco. But Costco is still selling them for that price: https://www.costco.ca/3m-particulate-respirator-n95---20-masks.product.100739985.html

Is this anti-gouging campaign a sham, dog and pony show? Was I that naive to believe in it?

The government makes money off of it in taxes, of course they're not going to stop it.

All they care about is if a customer buys that for $120, then sells that for anything more than $120.

Reality is its just for show to make them look good. When really they couldn't care any less.

carmaster wrote: ↑ It's clearly a show. Government won't do anything. Costco can argue that their suppliers raised the prices. Price gouging is happening everywhere including gas.

Hard for Costco to argue that when Uline sells the same box for $26.

Flash news guise.

Its called inflation and its happening because the gov. printed 40% of the global money supply in the last 12 months.

Who would have guessed that 40% of more money chasing the same amount of goods would create increases in prices.

Who would have guessed that increasing money supply without an increase in production or wealth would have this impact ?

[...]

So apparently everything is going to increase in price, so I guess everything is price gouging now? Seems like the lines are blurred now.

XtremeModder wrote: ↑ The government makes money off of it in taxes, of course they're not going to stop it.

All they care about is if a customer buys that for $120, then sells that for anything more than $120.

Reality is its just for show to make them look good. When really they couldn't care any less.

Your explanation doesn't make much sense because the government made masks tax-free: https://www.canada.ca/en/revenue-agency/programs/about-canada-revenue-agency-cra/federal-government-budgets/faq-gst-hst-relief-face-mask-shields.html

Coz4k wrote: ↑ Flash news guise.

Its called inflation and its happening because the gov. printed 40% of the global money supply in the last 12 months.

Source of information, please.

alpovs wrote: ↑ Source of information, please.

Canada is around 20% (https://tradingeconomics.com/canada/money-supply-m2)

USA is around 30-40% (they stopped publishing M2 money supply, i wonder why) (https://seekingalpha.com/article/441873 ... s-alarming)

Coz4k wrote: ↑ Canada is around 20% (https://tradingeconomics.com/canada/money-supply-m2)

I wonder if this is included: Hong Kong residents transfer billions to Canada as China clamps down
But the inflation mostly goes (or directed to) into real estate market.